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‘It is time that we stepped out of the shadow of the [financial] crisis,’ said Jaime Caruana, the general manager of the Bank for International Settlements, at the annual meeting.
‘It is time that we stepped out of the shadow of the [financial] crisis,’ said Jaime Caruana, the general manager of the Bank for International Settlements, at the annual meeting.
(RUBEN SPRICH/REUTERS)

Canada taken to task as BIS ratchets up warnings

The Bank for International Settlements is stepping up its assault on ultra-easy monetary policies at a time when central banks in Europe and Japan are pressing down on the monetary gas pedal and others remain reluctant to step on the brakes.

More than half a dozen years of unprecedented loose fiscal and monetary policies have resulted in “extraordinarily buoyant” financial markets, with rising asset values and unsustainable debt levels that are out of touch with the reality of a slow, grinding global economic recovery, the BIS says in its annual report.